It’s been a dozen years since all the major property types posted annual declines in a single month (April), marking the first time since September 2010 that widespread negativity prevailed, …
Category: Top National News
Office Owners Dump Lesser Buildings for Whatever They Can Get
Wall Street Journal, May 30, 2023–Peter Grant(subscription)New York City developers start to unload least-viable properties at deep discountshttps://www.wsj.com/articles/office-owners-dump-lesser-buildings-for-whatever-they-can-get-4f3d2948
CRE Companies Need to Be Wary of Carbon Offsets
GlobeSt.com, May 30, 2023–Erik Sherman (subscription)While some are fine, others might do little to nothing for the environment and ultimately have a negative impact on reputation.https://www.globest.com/2023/05/30/cre-companies-need-to-be-wary-of-carbon-offsets/?
Is There a Retail Exodus in San Francisco? Some Say Union Square is ‘Beating Strong’
Los Angeles Times, May 29, 2023–Summer LinThe overall retail vacancy rate in Union Square increased to 15.5% in the first quarter. But San Francisco Mayor London Breed and other San …
New York Commercial Real Estate Broker Confidence Falls to Record Low
The Business Journals, May 22, 2023–Sasha Jones (subscription)Commercial real estate brokers’ confidence in the New York market has fallen to a new low, according to a REBNY survey.https://www.bizjournals.com/newyork/news/2023/05/22/broker-confidence-q1-23.html
A Housing Bust Comes for Thousands of Small-Time Investors
Wall Street Journal, May 23, 2023 (subscription) Will Parker, Konrad Putzier, Shane Shifflett (subscription)Thousands of real estate entrepreneurs in the U.S. known as syndicators have come under financial pressures and …
How Regional Banking Consolidation Threatens Commercial Real Estate
Commercial Observer, May 19, 2023–Brian PascusJamie Woodwell, head of commercial real estate research at the Mortgage Bankers Association, an industry trade group, said that recent data from the Federal Reserve …
Why Have SFR Days on Market Risen to 30?
Multi-Housing News, May 19, 2023–Lew SichelmanColumnist Lew Sichelman digs into recent single-family rental dynamics.https://www.multihousingnews.com/why-have-sfr-days-on-market-risen-to-30/
SFR/BFR Lending Sees More Conservative Terms
The Crittenden Report, May 18, 2023–Sarah HavlenaSingle-family rental (SFR) and build-for-rent (BFR) properties have both been super-hot the last few years. The pandemic especially pushed demand for these property types …
NYC Skyscrapers Sit Vacant, Exposing Risk City Never Predicted
Bloomberg, May 18, 2023–Laura Nahmias, Natalie Wong, Dayana MustakOffice vacancies in New York City reached a record 22.7% this year, after decades of an average rate that never surpassed 11% …